Greenback Takes Lead, Kiwi Takes Hit

The greenback garnered some strength in Asia as regional liquidity remained thinned out by market holidays in China. Risk sentiment was wobbly in the wake of Monday's Wall Street rout, with several Asian equity benchmarks entering technical correction.

• NZIER's Quarterly Survey of Business Opinion showed that New Zealand businesses turned net pessimistic about the economy in Q3, which pulled the rug from beneath NZD. The survey is closely watched by the RBNZ, who will deliver their monetary policy decision tomorrow.
• Across the Tasman, the RBA threw no curveballs, leaving their policy settings unchanged. AUD posted a marginal downtick after the announcement, holding a familiar range as participants scrutinised Gov Lowe's statement.
• AUD/NZD crept higher as the Antipodean cousins diverged, but yesterday's extremes remained intact. Worth noting that A$2.1bn worth of options with strikes at NZ$1.0410 expire at today's NY cut.
• The global data calendar is headlined by U.S. ISM Services Index today, with a number of Services PMIs from elsewhere & Canadian trade balance also due. Central bank speaker slate includes ECB's Lagarde & Holzmann, Fed's Quarles and Norges Bank's Olsen.